This article analyzes Bitcoin memeNFT, what does the bald wizard Taproot Wizard pay tribute to and express?

While all the attention was drawn to the Silicon Valley Bank event over the weekend, the Bitcoin NFT community seemed to be on another In the encrypted world, I share photos and videos of myself wearing a wizard costume to take a bath, and enthusiastically play community games, and this stalk of wearing a wizard costume to take a bath comes from the whitelist task of the Taproot Wizard community.

Taproot Wizard officially shared the mental journey of founder Udi Wertheimer on social media: "In Silicon Valley Bank Announcing the closure and USDC Panic Day, I decided to launch the Taproot Wizard NFT project today and let people record videos of themselves showering in wizard costumes.” It is reported that Taproot Wizard is an NFT project created on the Bitcoin chain, initiated by encrypted asset developer Udi Wertheimer, to commemorate the Taproot upgrade of Bitcoin and a classic image of the Bitcoin community-Bitcoin Wizard.

Wizard: Bitcoin native meme NFT

The image of Taproot Wizard is a bald wizard wearing a purple robe and holding a magic wand. With eye-catching hand-painted art, Taproot Wizard deliberately designed NFT like this , it is to pay tribute to the classic stalk of the Bitcoin community - the Bitcoin wizard.

The image of the Bitcoin wizard first appeared In February 2013, theymos, then the administrator of /r/Bitcoin, called for ideas for community ads. But 1 hour later, a friend named /u/mavensbot submitted this work called "Magic Internet Money Wizard". The creative painting style, eye-catching picture design, and simple and direct cultural slogan quickly became the most popular answer in the forum.

This image was later selected as the official promotional image for the /r/Bitcoin forum and posted on Been on Reddit for a while. The simple brainwashing design brought a lot of traffic to the /r/Bitcoin forum, and more and more people clicked in, wanting to see what this "advertisement that doesn't look like an advertisement" really wants to express and represent. Therefore, many people know, understand, buy, and spread Bitcoin. It’s worth mentioning that Bitcoin at that time was only $287.

Appears to be credit for this publicity, 29 November 2013. The /r/Bitcoin forum has about 74,000 subscribers, an increase of 36%. At the same time, Bitcoin hit a record high at a price of "$1,132", which once broke the circle and attracted attention.

Therefore, this image quickly became an iconic symbol of the Bitcoin community, representing the mystery and charm of Bitcoin. Taproot Wizard is an NFT created by adding elements related to Taproot upgrades based on this image.

It is also interesting that, in addition to Taproot Wizards, a Bitcoin NFT project called Bitcoin Wizard was also created to commemorate Bitcoin Wizards. The Bitcoin Wizard project was released by the author of "Magic Internet Money Wizard" himself. Although it appeared later than taproot wizard, it has already been released.

At present, the two communities have also reached a friendly cooperation, Bitcoin Wizard official from the holders 100 people were randomly selected to airdrop GOLDEN TICKET to get the white list of Taproot Wizards. The current transaction price is above 0.25BTC.

The reason why many people in the community support Taproot Wizard is that the meme and the rise of Bitcoin It has an inseparable relationship and is the most original and pure meme of Bitcoin. In addition to commemorating the classic image of the wizard in the Bitcoin community, Taproot Wizard also believes that the Taproot upgrade of Bitcoin is of great significance to Bitcoin NFT, so it also added the word Taproot to its project name.

The significance of Taproot upgrade to Bitcoin NFT

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The Taproot upgrade is a major update to Bitcoin designed to improve the privacy and efficiency of the Bitcoin network. Taproot is the first update to Bitcoin in four years since Segregated Witness (SegWit) went live in 2017. It was first proposed by Bitcoin core developer Gregory Maxwell in January 2018, and it was widely accepted on June 12, 2021. Widespread support from Bitcoin miners and consensus implementation culminated in activation at block 709,632 on November 14, 2021.

The Taproot update contains three Bitcoin Improvement Proposals (BIPs), including BIP340 (BIP – Schnorr ), BIP341 (BIP – Taproot), BIP342 (BIP – Tapscript).

BIP-Schnorr introduces "Schnorr Signatures", a faster, more secure and less data-intensive way to authorize transactions . BIP - Schnorr also enables BIP - Taproot, which uses a technique called "MAST" to submit less smart contract transaction data to the blockchain, while also masking some private transaction information. Finally, BIP – Tapscript equips Bitcoin with an upgraded transactional programming language that utilizes Schnorr and Taproot technologies. Tapscript also allows developers to implement future Bitcoin upgrades more efficiently. (BlockBeats note, for more information about Taproot upgrade, please read "Why Bitcoin Taproot Upgrade is Important" "Post-Taproot Era: Re-examining the positioning and narrative of Bitcoin in the multi-chain structure")

Simply put, the Taproot upgrade introduces Schnorr signatures, which allow multi-signature transactions or transactions involving multiple addresses Looking like an ordinary single transaction, multi-signature transactions are often used to enable functions such as smart contracts. Before the introduction of Taproot, the data that could be written in a single Bitcoin transaction was limited to 80 bytes. The Taproot upgrade increases the amount of data a transaction can write, from 80 bytes to a full block (approximately 4MB). It is also because of the Taproot upgrade that it becomes easier to publish a large amount of data to the Bitcoin blockchain, making Bitcoin NFT possible.

The nearly 4MB NFT storm was once accused of attacking Bitcoin

Udi Wertheimer, founder of Taproot Wizards, has worked as a Web3 developer on the blog Buterin.org to help crypto newcomers update I have a good understanding of blockchain technology and Ethereum, so most of the people who paid attention to Taproot Wizards before were fans of Udi Wertheimer, and not many people noticed this project.

Until Udi Wertheimer purposefully orchestrated the largest block and transaction in Bitcoin history, leading Taproot Wizards to be called "the largest Bitcoin block ever piece".

Bitcoin mining company Luxor said it mined the largest ever Bitcoin block, the block size is 3.96MB, slightly below Bitcoin's 4MB limit. The block contains an NFT based on the original "magic internet money" meme called Taproot Wizards.

Taproot Wizard also posted on social media, thanking the full node operator for completing the 3.96MB size for them The NFT bears the support provided by the on-chain, and said: "Last night we made history. Even though the gatekeepers tried to censor us, we still mined the largest block and largest transaction in the history of Bitcoin!"

This incident caused a great shock in the Bitcoin ecosystem, Blockstream CEO Adam Back, Bitcoin Core developer Luke Dashjr and others objected to this It is believed that this will cause the size of the Bitcoin blockchain to expand rapidly, and the equipment requirements for running full nodes will be greatly increased, resulting in a decrease in the number of full nodes in the entire network and a decrease in resistance to censorship. At the same time, unexpected huge transactions and huge blocks will impact ecological facilities such as wallets, mining pools, and browsers, causing abnormalities in some facilities, such as certain transactions that cannot be parsed normally. In addition, in order to reduce the time for synchronizing and verifying huge transactions and blocks, mining pools or miners may choose not to download and generate blocks without verifying the transactions and blocks, which brings security risks.

They even severely accused Taproot Wizard of this behavior, saying: "This is an attack on Bitcoin. , Bitcoin blocks have a 1M limit, Taproot Wizard’s 4M data is placed on the chain in the witness, blocks and transactions have bypassed the 1M limit, 4M is fine, 400M is fine! In this sense, this is not innovation , is an attack on vulnerabilities!"

What does Taproot Wizard want to express?

There has been a debate in the bitcoin community: NFTs on the bitcoin blockchain Is there a legitimate use? Or should they be considered spam and discouraged and eliminated?

Many people believe that technical conservatism is a feature of Bitcoin. If iteration breaks extreme stability, its disruption to the protocol may outweigh the marginal benefit of the new innovation. Conservation is part of the immune system. As seen in the scaling wars in 2017, the Bitcoin community has faced significant challenges in scaling its capabilities. At that time, Bitcoin Core rejected the hard fork to expand the block limit, and chose to use SegWit to get the verification information out of the block under the premise of avoiding the hard fork, thereby bypassing the 1M block limit and realizing Partial expansion. However, at the time there was no limit to the length of the verification message, which leads to difficult choices today.

Some people think that the choice of the Bitcoin community is likely to do nothing and let various applications enter in this way In the Bitcoin blockchain, even if the dispute between restricting OP_RETURN and expansion lost its meaning. The Bitcoin ecology is already huge, and it is very difficult to achieve a smooth hard fork. However, through Ordinals technology, Bitcoin can achieve more functions without the need for soft and hard forks, of which NFT is just one of them.

Motivated by the belief that Bitcoin has largely lost momentum following the success of Ethereum's NFTs, Udi Wertheimer said he It would be great to see the unique, creative, and humorous culture once established by early cryptocurrency adopters return to the Bitcoin blockchain.

Through Taproot Wizard, what Udi Wertheimer wants to express is: Bitcoin should not only be used for simple transactions, and more functions can be achieved through technological upgrades, and NFT is just one of them. Inspire a new wave of interest and innovation in Bitcoin through disruption, community building, and rebuilding BTC's long-standing rebellious spirit. To do this, Udi Wertheimer argues that Bitcoin minimalists need to let go of their ego and prejudices and accept that the blockchain can be used for more than simple transactions.

Until now, many people think that it is impossible to generate a 3.96MB NFT in the Bitcoin block, But it turns out that through Ordinals and Taproot technology, Bitcoin can achieve more functions without the need for soft and hard fork upgrades. Although there are still some controversies in the Bitcoin community, many people still believe that Bitcoin NFT provides an application scenario for the use of Taproot technology and opens up more possibilities for the future of Bitcoin.

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